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US payrolls are showing renewed momentum. After a volatile period, recent data confirms a return to job creation, with non-farm payrolls rising again and beating expectations. Job growth dipped negative in mid-2025 but has gradually rebounded with broad-based gains across services sectors such as healthcare, retail and transportation. This reflects a labor market that is not booming, but resilient and expanding despite geopolitical tensions and sharply rising energy prices. With unemployment hovering around 4.3%, job creation is sufficient to sustain income growth, evidenced by median wage growth accelerating to 3.9% year-over-year in March.
Source: US Bureau of Labor Statistics, May 2026.